Clinton on Peronal Accounts

From a Bill Clinton speech to the Democratic Leadership Council in 2002. [read it here]

Well one thing you could do is to give people one or two percent of the payroll tax, with the same options that Federal employees have with their retirement accounts; where you have three mutual funds that almost always perform as well or better than the market and a fourth option to buy government bonds, so you get the guaranteed social security return and a hundred percent safety just like you have with Social Security.

Interesting that democrats believe it such a bad idea now - huh, don't they know the one of their current demigods, supported the idea. Notice I said support -- this idea was out there well before Bill Clinton mentioned it and if it happens, I am sure the democrats who hate it now will try to take credit for it then. (Hat tip: QandO Blog)